We often think of “breakthroughs” in terms of widespread adoption of new products and services, new innovations, new market growth etc.

With my most successful clients, it is much simpler and more constant.

Daily, weekly or monthly, it is about closing attractive business quicker, firing dysfunctional customers or employees, more intelligent pricing, agreeing more equitable terms of trade, faster cash collection and so on.

Just this week, I saw the management in a niche $150 million European financial trading business boldly tell the sub-sector’s largest global customer with ~$3 billion of liquidity that his preferred terms (rebates) were ending. Convention within the industry and the prior management was “you cannot level the playing field, we’ll be screwed”. A week later, an impressive array of prospects, who had historically swerved the firm’s offerings stepped forward with offers of substantial new liquidity, and the trading business is reporting record weekly profits.

The “breakthrough” is first, leaders having the courage to accept change must happen, adjusting long-held beliefs, attitudes and behaviours. Secondly, having people, particularly mid-level managers, with the volition and skills to see it gets done quickly. Thirdly, an absence of fearing the consequences when informed assumptions prove to be incorrect, and need mid-course corrections.